International Petroleum Corporation Stock Forecast
International Petroleum Corporation stock price ended at kr127.30 on Thursday, after gaining 2.17%.
(Updated on Mar 28, 2024)
The International Petroleum Corporation stock price gained 2.17% on the last trading day (Thursday, 28th Mar 2024), rising from kr124.60 to kr127.30. During the last trading day the stock fluctuated 2.54% from a day low at kr124.15 to a day high of kr127.30. The price has risen in 7 of the last 10 days and is up by 6.84% over the past 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 95 thousand shares were bought and sold for approximately kr12.14 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at kr122.21, a level that may pose a second chance to hit a runner. According to fan-theory kr135.22 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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IPCO.ST Signals & Forecast
Mostly positive signals in the chart today. The International Petroleum Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr124.87 and kr117.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 26, 2024, and so far it has risen 18.47%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Tuesday, March 05, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, March 05, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for International Petroleum Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at kr112.00 and kr110.30. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, International Petroleum Corporation finds support just below today's level at kr112.00. If this is broken, then the next support from accumulated volume will be at kr110.30 and kr109.00.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr3.15 between high and low, or 2.54%. For the last week, the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: kr122.42 (-3.83%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (IPCO.ST) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect International Petroleum Corporation to open at kr126.25, and during the day (based on 14 day Average True Range), to move between kr124.40 and kr130.20, which gives a possible trading interval of +/-kr2.90 (+/-2.28%) up or down from last closing price. If International Petroleum Corporation takes out the full calculated possible swing range there will be an estimated 4.55% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr112.00, some kr15.30 (12.02%) from the current price of kr127.30, our system finds the risk reward attractive.
Is International Petroleum Corporation stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for International Petroleum Corporation stock to perform well in the short-term period.
Current score: 3.670 Buy Candidate Unchanged
Predicted Opening Price for International Petroleum Corporation of Tuesday, April 2, 2024
Fair opening price April 2, 2024 | Current price |
---|---|
kr126.25 ( 0.82%) | kr127.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IPCO.ST
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 129.40 | 1.65 % | |
R2 | 128.20 | 0.704 % | ||
R1 | 127.45 | 0.120 % | ||
Current price: | 127.30 | |||
Support | S1 | 125.05 | -1.77 % | |
S2 | 124.30 | -2.35 % | ||
S3 | 123.10 | -3.30 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 127.30 | |||
Support | S1 | 112.00 | -12.02% | |
S2 | 110.30 | -13.35% | ||
S3 | 109.00 | -14.38% |
FAQ
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